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Modern Monetary Theory: The little-known consequence of the massive coronavirus bills
noqreport.com ^ | 5/15/20 | JD Rucker

Posted on 05/16/2020 2:41:10 AM PDT by a little elbow grease

The worst part about spending $6 trillion or more on coronavirus recovery isn't what's in it. The worst part is what happens if it doesn't destroy us.

(snip) --- The issue of our constitutional rights being suppressed is a huge one, but it’s not the biggest. I know what you’re thinking… “How can you say it’s not the biggest?!?!?!” Don’t get me wrong. It’s definitely huge. But it’s not nearly as destructive to the United States of America as the little-known consequence of all of these bailout bills, including the proposed $3 trillion bill Speaker of the House Nancy Pelosi is pushing forth now. She admits that it’s a starting point, that there will be negotiations with Senate Majority Leader Mitch McConnell and the White House, but at this point it doesn’t matter where it lands. We’re still talking about TRILLIONS of dollars, and therein lies the real risk for America that few seem to truly comprehend.

(snip) --- Many on the far-left are balking at Pelosi’s $3 trillion proposal because IT ISN’T BIG ENOUGH. Seriously. They’re saying rent and mortgages should be paid by government for months, even years. They’re saying the government offering to pay student debt up to $10,000 through September, 2021, is too limited in both term and scale. They’re saying there’s not enough in there for climate change even though, oddly, there actually is some climate change language in there.

The real threat arises if we DO NOT crumble as a result. If the American spirit, our drive to recover, and the Grace of God allows us to make it through all of these bailouts without tangible repercussions, then Modern Monetary Theory will have been falsely proven to be effective. At that point, the end of America will begin.

(Excerpt) Read more at noqreport.com ...


TOPICS: Constitution/Conservatism; Government; News/Current Events; Politics/Elections
KEYWORDS: banking; economy; money; spending
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1 posted on 05/16/2020 2:41:10 AM PDT by a little elbow grease
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To: a little elbow grease

L8r


2 posted on 05/16/2020 2:51:22 AM PDT by preacher ( Journalism no longer reports news, they use news to shape our society.)
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To: a little elbow grease

Let’s just pass a bill with a quadrillion dollar stimulus and go for broke.


3 posted on 05/16/2020 3:00:06 AM PDT by HighSierra5
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To: HighSierra5
"Let's just give every human being on earth a billion dollars and solve every problem.

Like, what are we waiting for?".

~ AOC


4 posted on 05/16/2020 3:09:03 AM PDT by bagster ("Even bad men love their mamas".)
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To: a little elbow grease

The method and speed at which Congress is just pushing out 1/2 trillion and multi-trillion dollar spending bills at nearly the flip of a switch is not only irresponsible, it is insanity.

These people have devalued not only our currency, they have devalued our great institutions that were set up to secure our freedoms and liberty. Pray for our country.


5 posted on 05/16/2020 3:22:34 AM PDT by Susquehanna Patriot
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To: a little elbow grease
Who will pay for it? Us. Every one of us.

6 posted on 05/16/2020 3:24:22 AM PDT by BitWielder1 (I'd rather have Unequal Wealth than Equal Poverty.)
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To: BitWielder1

And our children’s children’s children’s.........


7 posted on 05/16/2020 3:28:12 AM PDT by HighSierra5
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To: a little elbow grease

ping


8 posted on 05/16/2020 3:29:41 AM PDT by gattaca ("Government's first duty is to protect the people, not run their lives." Ronald Reagan)
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To: BitWielder1

Our country has been paying for it since 1913. The descent has ramped up in the last 20 years.


9 posted on 05/16/2020 3:36:01 AM PDT by Susquehanna Patriot
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To: a little elbow grease

We are all Zimbabwe now.


10 posted on 05/16/2020 3:37:46 AM PDT by Sirius Lee (They are openly stating that they intend to murder us. Prep if you want to live.)
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To: a little elbow grease

The idea is to destroy the free enterprise system of business, than the green new deal can replace it.


11 posted on 05/16/2020 3:53:07 AM PDT by exnavy (american by birth and choice, I love this country!)
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To: Susquehanna Patriot

It sounds counter-intuitive, but these massive stimulus bills are aimed mainly at staving off DEFLATION in our economy. They’re basically propping up the value of the U.S. dollar, not devaluing it.


12 posted on 05/16/2020 3:56:47 AM PDT by Alberta's Child ("And somewhere in the darkness ... the gambler, he broke even.")
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To: Alberta's Child

The real solution to this self inflicted problem is to completely open things back up. Come what may. But noooooo.


13 posted on 05/16/2020 4:07:21 AM PDT by HighSierra5
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To: Alberta's Child

That may be the short term impact. I am unconvinced that it has long term benefits. Look at the value of the dollar since 1913; this won’t reverse that trend, only accelerate it.

These money creation actions are being taken only because the government has shut down the greater economy. There should be a parallel contraction in government spending at all levels since the government is shut down too. Not reading to much about that except some states want a federal bail-out - which is what is supposed to be included in Pelosi’s bill.


14 posted on 05/16/2020 4:16:00 AM PDT by Susquehanna Patriot
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To: a little elbow grease

The billions upon billions we waste, given away to foreign aid and other garbage that does not benefit the American people is staggering. Pull that money back and use it to lower the bills passed.


15 posted on 05/16/2020 4:16:13 AM PDT by ronnie raygun
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To: a little elbow grease

There’s one word that comes to mind - INFLATION!


16 posted on 05/16/2020 4:18:25 AM PDT by CptnObvious (Question her now.)
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To: BitWielder1

“Who will pay for it? Us. Every one of us.”

No, every one of us who worked hard and lived beneath our means to save money will pay for it.

I’m certain that this will end with all 401K accounts being seized by the Federal government. That’s the only available pool of capital that could come close to paying back the absurd loans we are making to ourselves.

It won’t be called a seizure, we will all get some form of government I.O.U. and we will be assured that our investments are actually being “protected”. Anyone who objects wants to kill grandma of course.


17 posted on 05/16/2020 4:19:06 AM PDT by Junk Silver ("I think that everything that produces a paycheck is essential." - Nanci Valentino, Wisconsin)
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To: a little elbow grease

So where is Tea Party 2.0. It only took $800 billion to bring them out last time. It sems like $6 trillion would stir them a little.


18 posted on 05/16/2020 4:27:34 AM PDT by oincobx ( Posting)
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To: a little elbow grease

It’s a big farce. The government does not have the money. It issues money based on nothing, thus diluting the value of each and every dollar bill in circulation.

It just cut the value of your savings, retirement funds, and investments.

Plus, who do you think is going to buy the government obligations? Probably the very same country that gave us CV19.


19 posted on 05/16/2020 4:28:27 AM PDT by I want the USA back (I fear my government more than the bug. I hate that which makes me afraid. And the media.)
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To: Susquehanna Patriot
I agree that this won’t reverse the trend, but I also don’t think it will accelerate it. The whole purpose of these moves — as it was in 2008 — is to ensure that existing debts of all kinds can be paid ... mortgages, car loans, etc. ... so that the investors holding those debts will not lose confidence in the U.S. dollar as a reserve currency.

The irony of all this is that is has effectively turned a mortgage into a debt that’s as safe as a government bond.

20 posted on 05/16/2020 4:52:35 AM PDT by Alberta's Child ("And somewhere in the darkness ... the gambler, he broke even.")
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